China’s benchmark Shanghai Composite Index (000001.SH) lost 0.4% on Wednesday, while the Shenzhen Component Index (399001.SZ) rose 0.17%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.27% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) rose 0.87%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Xi to Visit Saudi Arabia to Boost Relations in the Middle East
The president will attend the first China-Arab States Summit and a meeting of the China-Gulf Cooperation Council during the four-day trip
· China Approves Second Nasal Spray Covid-19 Vaccine
Beijing Wantai Biological gets green light to join CanSino Biologics in offering inhaled version of coronavirus inoculation
· Chinese Developers Rush to Sell Shares Under Policy Easing
So far 15 publicly traded real estate operations plan to raise funds to complete projects, replenish liquidity and repay debts
· Former Caixin Deputy Editor-in-Chief Zhang Jin Dies at 56
After a 30-year career in journalism, the beloved editor devoted his time to helping sufferers of depression
· China Road Freight Falls for Third Straight Week as Covid Curbs Linger
Conversely, international flights jumped 36.7% after the mechanism that suspended routes with infections was terminated
· Tech Insider: Foxconn’s Sales Fall, CATL Looks to Battery-Powered Ships
Shein to upgrade factories after labor abuse claims, EHang self-flying vehicles approach commercial takeoff
· China Relaxes Restrictions on Overseas Loans So Developers Can Repay Dollar Bonds
The practice was tightly restricted to prevent capital flight, but now it is hoped international branches of domestic lenders can help struggling property firms, sources say
· Beijing Scraps Covid Test Requirement for Public Places
Residents can enter areas including office buildings, supermarkets and residential communities without a negative result, but the government denied rumors of a complete end to testing
· Former HKEX CEO Charles Li to Launch Micro Connect Exchange in Macau
New financial assets platform will offer global investors access to China’s micro and small businesses, which will benefit from more financing
· Foxconn’s Sales Plunge Amid Zhengzhou iPhone Factory Disruption
November revenue drops nearly 30% from October as workers flee Covid outbreak, forcing the plant to jack up wages and offer bounties to lure people back
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This article was generated by Caixin Automation.
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